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CNBC
Feb 24, 2010 4:00am EST
. >> in europe, google faces anti-competition measures. >>> in the united states, ben bernanke gets ready to outline an exit strategy to a skeptical congress. >> a warm welcome to "worldwide exchange." i'm chloe cho in asia. it's just past 5:00 p.m. in singapore. let's check on where the asian markets are wrapping up the trading day. mostly weaker today on the back of weaker consumer confidence numbers. and toyota lows taking the nikkei lower by 1.5%. the hang seng off 0.75%. on the other hand, we have the shanghai composite erasing all of its earlier losses, pushing higher by 1.3%. a lot of speculation in small cap stops and what may be linked to the national people's congress set to kick off next friday. other markets are weaker, the kospi down 1%. the bombay sensex has been trading around the front line. the aussie market asterisk comes off the table, a lot of commodities and resources lower. the s&p/asx 200 down .5%. let's check on the ftse cnbc global 300. slightly off 0.4% at 4,315. good morning, becky. >> good morning. it's about 10:00 on the continent. european markets have been t
CNBC
Feb 10, 2010 7:00pm EST
>>> tonight on "the kudlow report," the washington snowstorm shut down congress. but ben bernanke released his new testimony, anyway. investors caught a chill on the news, and distinguished money expert john taylor has his own expert strategy rebuttal to bolster ben's manhood. you don't want to miss this one. >>> they're bearing gifts to the greece bailout problem. will the bailout issue ever end? >>> google is at war with china and now they're being thrown out of iran. they think they can stifle free speech, but i think the old human desire for freedom and democracy will still win out in the end. >>> has obama flipped out on greedy bonuses and business support? well, liberal columnist paul cra craigman is horrified, he thinks we're doomed. fasten your seat belts, everybody, "the kudlow report" starts now. >>> good evening, everyone. i'm larry kudlow. welcome back to "the kudlow report" where we believe free market kamt capitalism is the b path to prosperity. >>> our lead story tonight is fed head ben bernanke's leader to congress. how is he going to stop the zero interest rate mo
CNBC
Feb 24, 2010 12:00pm EST
going on today. this is "mad money high noon." we've been listening all morning to ben bernanke's testimony. they're taking a break and we're monitoring it and return to it if need be. let's go to steve liesman. what do you think is happening here? >> the main thing to note is the thing he said again that the fed will remain exceptionally low for an extended period. there were questions about given what happened to the discount rate and given a very confusing financing program that they announced yesterday which is sort of a drain on liquidity. the main thing is bernanke steps forward and says we will remain exceptional, there are a lot of games and dancing going on about regulatory reform and games and dancing going on about some of the fed anger and the populist anger about where you go from here on deficits and that, but i don't think any of that is as substantial, jimmy, as the chairman saying here's the policy. the policy is what it was in january. one other note i would make, i thought his comments on the recovery were tentative and more on the one hand and on the other ha
WETA
Feb 24, 2010 6:30pm EST
for an extended period. >> tom: but ben bernanke tells lawmakers he's moving ahead with plans to pull some of the rescue programs put in place during the financial crisis. you're watching "nightly business report" for wednesday, february 24. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. your interest rates won't be going up for a little while longer. federal reserve chairman ben bernanke told congress today he does not plan to raise rates anytime soon. >> tom: susie, those were magical words for investors. stocks rallied with the dow gaining 91 points. >> susie: tom, bernanke also told lawmakers about the fed's plans to wind down the emergency lending programs put in place during the financial crisis. darren gersh has details, and how the transition back to normal could impact you. >> reporter: when you've pumped more than a trillion dollars into the financial system, as the federal reser
CNBC
Feb 25, 2010 4:00am EST
. >> in the united states, the spotlight shines today, ben bernanke is back on the hill and president obama's high profile health care summit. >> hello there. a warm welcome to "worldwide exchange." it's chloe cho in asia where it's just past 5:00 p.m. in singapore. a similar scene that we saw as yesterday, of course, investors picking up on bernanke's comments. going forward, could be weak. of course, we had some weak housing numbers, as well, along with disappointing consumer confidence this week. take a look at the damage report. the yen is not helping. nor are the toyota woes. the hang seng, slightly off the shanghai composite. we did have the auction yield on three-month bills along with one-year bills earlier this week that left those yields unchanged. a lot of investors seem to be thinking that perhaps this could be a sign the pboc is taking it easy as far as tightening is concerned. as for the other markets, the kospi down 1.6%. the bombay sensex is pretty much right along the flat line and the aussie market lower by 1.2%, back below that key 4,600 level and take a look at the ftse cnbc gl
CNBC
Feb 24, 2010 9:00am EST
morning. i'm mark haines. >> i'm erin burnett. front and center, benjamin s. bernanke. >> yes. >> will be testifying in front of the house financial services committee about the economy and anything else they want to talk about. that'll be live in an hour. >> how about the exit strategy? imagine there will be some questions about that. the sec meets on possibly curbing short sales. huge issue for the market. full details coming up. >> and president obama meeting with key business leaders. it's all happening during this show. we've got a lot of breaking news, big headlines for you. we will be all over it, mark. how are your futures? >> not too good. >> no. >> up 0.70. we get a little break here because we closed a point above fair value. but, you know, looking at maybe 15, 20 points on the dow at the open. let's hit the markets. peel back the layers of the onion starting with brian shactman at the big board. >> thank you. listen, asia and europe were pretty mixed. germany, their economy in an absolute standstill. doint need to go over bernanke and all things going on in d.c. wi
CNBC
Feb 25, 2010 11:00am EST
because of the greece situation, and also because fed chief ben bernanke is saying that they're going to look into the swaps specifically with goldman. so that is an issue, of course, as well. i want to bring in brian shactman who has been down here all day and tracking all of this action. a very big day, indeed, brian. let's talk about the economic situation and how the jobless claims are affecting this market. >> the truth is when americans woke up today, we will have a negative open because of europe. the concerns over greece, of course, made the euro softer and the dollar strengthen. we've had a real correlation with the dollar and the euro in eshgsz kitties and jobless claims hit and it was muted and boom, we bottomed out and they were a concern today and we have traders saying this is a 70% greece and the others is saying 100% about jobs. a lot of earnings and there's a big, big deal that we want to talk about today as well. >> coca-cola enterprises. this had been to some extent, somewhat expected within the m&a community. when you see a deal like this a multibillion deal, one w
CNBC
Feb 24, 2010 1:00pm EST
. the president, mr. bernanke, secretary lahood, testifying on the toyota issues on the hill. let's take a breakaway. we're going to watch them all and bring in john harwood, steve liesman and andrew par menty yea, managing partner with height analytics and open the discussion here. steve, you've been listening to mr. bernanke sum it up for us. what are the three or four bullet points. >> he reiterate that the fed will remain exceptionally low. that was a little bit more dovish than maybe some expected. you see the bond market rallied a bit. the dollar kind of hung in there. stocks have done better while bernanke's been talking. interesting comments on the volcker rule where i guess he's in opposition to the president's strong ideas about banning proprietary trading by the banks. he's saying you can do that idea, but it's frouth with danger and a better way might be to give the regulators authority to limit risky activity. he's got a less or thoughdox version of the volcker rule which is what is already in the house bill >> he also made interesting comments on deflation because one of th
CNBC
Feb 8, 2010 7:00pm EST
anywhere on the globe. and then helicopter ben bernanke is going to capitol hill this week with a new blueprint for tighter money known as "paying interest on excess bank reserves." i don't buy it but we'll debate it. >>> and finally, the obama jobs plan which i call stimulus 2.0, full of gimmicks and high tax-job destroyers. i'll use my best right hook against the left jabs of mark walsh and david goodfriend two of my favorite liberal pals. fasten your seatbelts, everybody. "the kudlow report" begins right now. >>> good evening. i'm larry kudlow and welcome back where we believe freed market capitalism is the best path to prosperity. let's begin with tonight's money politics message. i'm trying hard to be optimistic about economic recovery in america and for that matter, around the world. in my world, optimism always beats pessimism every time. despite wayward policies from washington i still believe in the cyclical recovery scenario here at home. but the growing debt problem in the u.s., europe and elsewhere is starting to sack confidence in the optimistic growth scenario and i have
CNBC
Feb 10, 2010 4:00pm EST
with thousands of flights grounded as we speak. >>> fed chairman, ben bernanke laying the groundwork on the central bank's exit strategy for the economic rescue efforts. we've got details of what mr. bernanke said today coming up. >>> but first here's a look at how we finished the day on wall street. the dow jones industrial average under water today. down 21 points on the dow at 10038. under a billion shares traded here on the nyse, as people stayed home, instead of embracing the heavy travel and heavy snow. s&p 500 down 2.5%. quarter of a percent lower at 106 and the nasdaq composite gave up three points and technology one of the winners on the session as was financial services. we get all of the action right now from bertha coombs our floor on the nyse. >> reporter: hey, maria, all things considered it's not a very bad day on the close, even though we closed to the downside. the real factors that kept people hessittant today, the snow of course. that kept volumes lower, but also the uncertainty about where we're headed with greece. this morning, as you take a look at the intraday
CNBC
Feb 24, 2010 6:00am EST
. >>> ben bernanke, coming to capitol hill. the central bank chief is ready for tough questions from lawmakers about the economy, interest rates and the fed's exit strategy. and president obama reaching out to business leaders, hosting a white house dinner for some high profile ceos. today, he addresses a business round table. those stories and more as "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box." i'm becky quick along with joe kernen and carl quintanilla. we've been watching the markets this morning. after a down day yesterday, you'll see we're not getting any bounceback just yet. after yesterday's markets, obviously, you've got a lot of watchers waiting to figure out what happens. >> yeah. that consumer confidence number was troubling. >> it was. >> people now thil thinking maybe the sample was bad because i was worse than a lot of people expected at this stage of the game. we've got jobless claims high. we'll talk a lot about that this morning. but toyota's troubles are in the spotlight again today as the company's ceo appears on capitol hill
CNBC
Feb 10, 2010 11:00am EST
call." i am trish regan and we are 09 minutes into today's trading. market lower amid ben bernanke's comments and we'll talk about the fed's exit strategy and what it means for your money right now. hey there, larry. >> hey, trish. i'm larry kudlow, conflicting reports on whether there's a european plan to bail out greece. we'll have a live report from brussels and we'll discuss what needs to be done right here. good morning, melissa. >> as toyota's problems mount we ask are cars just too overengineered and sophisticated computers doing more harm than good. this is "the call" on cnbc. >>> it looked like it was going to be a positive day on this snowy morning in new york city as traders remained optimistic that there would be a bailout for greece, but then germany said there was no imminent plan and the rallies stalled and after ben bernanke announced the fed's exit strategy. take a look at how the s&p 500 is trading. it is down seven points on the day and it's two-thirds of a percentage point. take a look at the dow, it's down 59, almost 60 points and that's 0.1% and sitting below
FOX
Feb 11, 2010 4:30am EST
honest about problems with its vehicles or could there be more troubles ahead? >> we know bernankes plan to pull the plug on the emergency support programs for the financial market. >> the on line diamond business. how much does the future shine? it's all ahead on today's "first business." >> you're watching financial news. >> thanks for joining us. news of a potential bailout for greece could be coming, helping to stabilize the financial markets. the european summit is taking place thursday. we could hear developments on greece. >> the chicago auto show is getting underway. toyota is one of the headline stories that we are watching, including the possibility of the president of toyota coming to the united states sometime in march. we'll have to wait and see on that one. >> other than that, not much going on on capitol hill this week. washington, d.c. is digging out from the huge storm. hearings that were to be held this week have been pushed back, including toyota's massive recall. >> this week a class action lawsuit was filed against toyota on behalf of people who bought the stock
CNBC
Feb 25, 2010 9:00am EST
. >> but they will be -- >> who will they be? >> ben bernanke. >> okay. senate banking committee. president holds a key health care meeting. that's why we have the white house. what else? >> snow in the northeast. it started as rain this morning for many this morning who are watching but it has turned into thick -- >> wet, heavy. >> idyllic if you're looking to -- >> don't shovel this stuff. >> well, good morning, everyone. it's good to be with you. we're here, glad you're here. i'm erin burnett. >> i'm mark haines. >> it says i'm market haines. i want everyone to know it's funny. >> yes, i noticed that. also front and center the number of u.s. workers filing initial claims for unemployment benefits rose unexpectedly last week. >> coca-cola striking a deal to buy the north american operations of its largest bottler. you just saw the ceo there. >> heinz posted $231 million profit. a lot of ketchup. >> futures are sad. >> not good. >> part of the reason for the sadness was an unexpected jump in unemployment claims. >> hum. >> much bigger jump than anticipated. a lot of people are looking through it and saying i
CNBC
Feb 24, 2010 6:00pm EST
to entertain you. call me. the most dramatic piece of news today did not come from ben bernanke's grilling in front of the house of representatives. bernanke floated like a butterfly. didn't bother to sting at all. it wasn't the skewering of toyota by congress for which the takeaway is quite obvious. keep buys ford and ford preferred. no, none of that. the most sit-up and take notice piece of news today came from dollar tree. which skyrocketed six points, up more than 14% on a day when the dow gained only, well, like 92 points. s&p up a percent. why do we care about a dollar score more than the fed chairman or a huge automaker? first, in full disclosure, my good and plenties of toiletries at my local store did not skew the numbers higher. although it didn't subtract from the company's astounds 32% increase in earnings. no. what this number says and what the stox said in reaction to it along with the store's radically high guidance from 2010, is that the consumer, the consumer is bummed and the consumer is stretched. >> the house of pain. >> i tell you, you don't go to dollar tree to feel g
WETA
Feb 25, 2010 6:30pm EST
investigation. and fed chairman ben bernanke told lawmakers at a senate banking hearing today that he's reviewing goldman's derivative swaps with greece. >> obviously, using these instruments in a way that intentionally destabilizes a company or a country is... is counterproductive, and i'm sure the s.e.c will be looking into that. we'll certainly be evaluating what we can learn from the activities of the holding companies that we supervise here in the u.s. >> susie: at that same hearing today, bernanke repeated the same message he told house lawmakers yesterday-- he does not plan to raise interest rates anytime soon. so, if interest rates remain at historically low levels for many more months, what does that mean for stock investors? suzanne pratt asked some market pros for their opinion on that topic. >> reporter: when federal reserve chairman ben bernanke talks, wall street always pays close attention. that's because there's an inverse relationship between fed policy and stock prices. tighter money usually means stocks move lower, while easy money generally equals higher stock pric
CNBC
Feb 10, 2010 4:00am EST
, will they or won't they? the bailout chatter for greece intensifies. >> and here in the united states, ben bernanke will set out the fed's exit plan today but will likely make jobs clear, we'll still be in the car for some time to come. >> and welcome to "worldwide exchange." i'm christine tan in singapore where it's 5:00 p.m. in the city. let's get a view of where the asian markets have closed today. a lot of hopes pengd on the european union. they might come up with a plan to bail out greece. the nikkei 225 is up marginally. toyota continues to be focused. that stock climbing despite anal announcement that it's recalling another set of cars. the shanghai market up more than 1%. a lot of positive comments out in the country about strong import data and export data and that's helping to lift sentiment in china. the kos pit is moving up flat. people and investors are staying on the sidelines. the bombay sensex is trading down 0.5% and the aussie market is pretty much flat, up 0.2%. the ftse cnbc global 300 up 8 points, 4,243. ross, good to see you. >> hey, christine. we're very much focused on the w
CNBC
Feb 10, 2010 9:00am EST
not agreed to anything yet. >> and ben bernanke will be releasing his ideas on how the fed is going to pull back from its current role of propping up the economy in every way, shape, and form. we're going to have that live at 10:00. i know his comments are coming out, mark. i'm not sure if he's actually going to physically be there because you know in washington it's a little snow. what are they going to do? >> i think they now have a total of 50, five zero, inches on the ground. >> yeah, yeah. >> we also have big snow issues in new york, baltimore, philadelphia, airports closed, schools closed. it's a real mess. this is a live picture. >> wow. >> well, it was a live picture of reagan national airport. it is empty. >> that's amazing. it really is. mark, you know i remember when there was a forecast of snow things would be shut down and called off and to your point pretty incredible what has been going on there. snowmageddon. that's an amazing picture, live. no one at the airport. >>> the futures right now are plus 0.70 on the s&ps. we needed 1.42 to get to fair value. so it's very close to
CNBC
Feb 10, 2010 3:00pm EST
. bernanke's testimony was released this morning. on outlining an exit plan, the market pretty much took a slide. a lot of things that told about -- heard about. the 10-year auction did not go too well. rick santelli will have more on that, partly because of the low volume, because of the storm. as the storm's intensified here in the northeast i know that traders are concerned about getting home and we've seen volumes get lower. financials have been the standout all day and really moved us into positive territory midday. jpmorgan, bank of america very strong. and strong that perhaps metlife set to buy its alcoa unit. energy and materials have gone back and forth as the dollar has gone back and forth. dollar lost ground midday. we saw them gained and now they're losing again as the dollar is stronger got and also got disappointing outlooks from lothan mentel. the super markets, maybe one of the benefactors to watch as far as the storms. their stocks today are doing pretty well. a friend of mine sent me picture it is from washington area super market chains there, calling them, so be it, s
CNBC
Feb 11, 2010 4:00am EST
, as well, and nursing losses from the federal reserve chief ben bernanke. we've got all the details. christine, we're waiting for the timing. >> that's right. let's see the properties expect of a package for gooes, is it having any impact on the euro right now? euro/dollar, 1.3763. euro is higher against sterling, 0.8841. euro/dollar 1.3763. dollar/yen, standing at 90 evening. a lot of eyes on what will happen with the package. nicole. >> the snowstorm may gone in the i'd, but it's reeking havoc in the east coast, especially in washington. government offices are closed for a fourth straight day at the estimated cost of $100 million in lost productivity. the senate will be back in session this afternoon, but no votes are scheduled. the weekly u.s. inventory data which normally comes out on wednesday has been postponed again until friday. january retail sales in december business inventories which were supposed to come out today have moved to friday. we still get weekly jobless claims at 8:30 new york time and they're forecast to drop by 12,000 to a total of had 68,000. >>> pepsi corp
CNBC
Feb 9, 2010 11:00am EST
? >> a lot of speculation about the ecb and real quickly, i just want to mention that the bernanke hearing for tomorrow has been postponed. the expectation is that that is related to weather issues, of course. we've got a big storm coming our way here on the east coast. in the meantime we're looking at a market that's been up triple digits. up 99 and 100 as i speak and this is primarily because there is hope that, in fact, greece's problems may be somewhat tempered by the european union coming in and doing some kind of rescue, some kind of bailout. i want to bring in bob pisani. we've got a lot to talk about, bob. first, bernanke hearing. >> it's just because of the snow, there's nothing else going on. it's that simple and that makes a lot of sense and that's what traders have been saying and we're waiting for an official reason. >> mr. trichet is on his way back from sydney as we speak a day early and a lot of people are putting their hopes on him coming forward with some kind of plan. >> it's actually moved the markets. remember in '92 with the treat they created the whole euro, and gree
CNBC
Feb 24, 2010 4:00pm EST
the toyota hearing that we've been watching here on cnbc. federal reserve chairman ben bernanke also telling congress today that interest rates are likely to remain low for an extended period of time to support the economic recovery. that's what really set the tone for stocks today and saw a rally in the market by 91 reports. cnbc's reporter steve liesman has more. >> reporter: fed chairman ben bernanke said those magical words that markets wanted to hear today, that the fed would stay exceptionally low for an extended period. he said that before but market his their doubts after fed hiked discount rate last week and the treasury, then, revived a program that helps the fed train liquidity. that is ultimate lie a program that could make financial conditions tougher. bernanke attempted to be crystal-clear on fed policy. >> the fomc continues to anticipate that economic condition conditions including low rates or resource utilization subdued in inflation trends and stabile expectations are likely to warrant exceptionally low levels of the federal funds rate for an extended period. >> reporter:
CNBC
Feb 2, 2010 7:00pm EST
.s. but the old bugaboo, inflation and ben bernanke, will the fed reduce the balance sheet and get rates to more normal levels in my lifetime? >> hopefully you will live a long time, larry, so yes. unfortunately i have never seen the fed or bernanke articulate how to downsize the balance sheet. i haven't seen a plan out there to say, this is how we can do it. they are owns and backing these mosh mortgage-backed securities now and they will weigh reducing the balance sheet with propping up the housing market. we may see another republican revolution and a cut-back on the huge obama taxes on hedge funds, bank pay, small businesses and letting the bush tax cuts expire, i am not confident that bernanke has a plan to deleverage and 2.7% year-over-year growth in the cpi isn't scary, but it's not comforting either. >> you have cut back on your equity allocation, is that right, mike? >> yes, i am. i'm pretty much now at about 20%. jim points out the strong growth in corporate profits. a lot of it is from cutting overhead, cutting employees, but some junk bonds are attractive now for the companies that w
CNBC
Feb 19, 2010 2:00pm EST
this great speech by bernanke, published on february 10th, and he said he's going to do it. you have to be from mars not to know that he had to deal with the discount rate. but the federal funds rate what bernanke is also saying is not going to be a good, as it was historically, measure of what's going on in the short-term monetary markets. we do the same thing all the time. one of the risks, one of the returns are inflation, interest rates, cost of capital, and equities. and so we have the rice syndrome so to speak. what he said about the new normal is what we've been living through for the last hundred years. returns of 4.5%, 5%. >> wait a minute. last ten years were a little different than that. but so were the '80s and '90s. >> yes. >> you had 18% type returns, compound annual growth rate in the equity markets, so the last ten years you didn't make any money. if you bought an index fund like vanguard you would have made no money. >> why did i have you on the show? i want to go back to jim. i started investing ten years ago and actually bought a vanguard fund. ken, it wasn't yours
CNBC
Feb 10, 2010 6:00am EST
on a bailout for the debt-strapped country. >>> on exit strategy, ben bernanke unveiling his plan for the fed's next move. and the house of mouse, disney posting strong quarterly results and investors are responding. a cnbc exclusive with ceo bob ieger, "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick. joe and carl are out today. steve liesman is spending the week on set with me and this morning we are joined by "fortune" magazine editor andy soerwer. >> good to be here. >> meantime, wall street is bracing for a winter storm this morning as the second snowstorm in a week descend eds on new york. washington, philadelphia, they are expected to be hit and hit hard. the federal government in washington is closed for a third straight day at an estimated cost of $100 million in lust productivity. government offices in boston, baltimore and philadelphia all announcing that they will be closed. congress, by the way, is canceling votes and rescheduling hearings. the united nations headquarters in new york city shutting down schools all th
CNBC
Feb 8, 2010 4:00am EST
by a blueprint coming out from bernanke this week on a plan for credit tightening? >> now, you know, this is the usual thing, nicole, bernanke will come out and he'll have to be careful what he says. he has been saying we'll have an exit policy but not yet. exit policy means look at my finger. higher interest rates. it's like saying the market correctors. was it wrong before? the exit policy is when we're going to see higher interest rates in the united states and of course the markets right now don't want to hear about that. bernanke is saying when the time is appropriate will include interest rates because the markets will want to know when is the appropriate time. can you spell out what's going to happen? the problem is guess what? we're having low unemployment so what if we have low unemployment the month after that? will that be the appropriate signal? >> there we go. andrew freris to stay with us. we'll get you some headlines making news right now. meanwhile, around the world, in the united states, the head of the world's largest bond fund says 2010 will be a year of sovereign
CNBC
Feb 8, 2010 11:00am EST
. >> if you want to keep jobs here, you have to find a way to incentivize corporations. bernanke's height rate plan. we will take a look at the policy shift. >> it costs $150 billion a year to treat alzheimer's. medivation is helping find a cure. the stock is up 80% of the year. their ceo joins us about their late stage development drug. >>> the fed is set to unveil its rate hike plan. it is going to be a delicate balancing act for policymakers. steve liesman heads big reporting on this story for weeks, months, maybe years, joins us now with the very latest update. steve, what are they cooking up? >> you know, the question, you know, fed chairman goes to the hill wednesday. the question is whether we will hear anything new from the considerable talk from the fed already about the exit strategies which we reported quite a bit. fed has been transparent about the plans to unwind easy policies. not necessarily in one place. the reason the fed wants to let markets know what it is cooking up for the piece. but afraid too much talk to believe war over the financial cries sis over. the fed does want t
CNBC
Feb 9, 2010 11:00pm EST
, a guy who's equivalent of ben bernanke he hurried back. the moment he booked that ticket the hedge funds figured he was going to solve the crisis and that's when they started rallying. y yun -- can you believe it? you just need to find out who his travel agent is and book your trade accordingly. if we knew he's on the case, we're less concerned about a collapse in europe and we recognize that he isn't about to cut off the stimulus that's so crucial to getting europe which has the worst economies in the world going in the right direction. if the stock market stimulus thing is still with us, then we're not going to slink back into a worldwide slowdown. trichet's travel interruption was so powerful it was able to do something i have not seen happen since the year began, maybe even earlier, and that is the stock market did not go down when the baron chief president obama spoke on tv. way to go, trichet. now, i know about zorba the greek than greek bonds. i get the gist of trichet's move -- memo to trichet on his travel plans, make sure they're never on a sunday because the markets aren't ope
CNBC
Feb 25, 2010 6:00am EST
, fed chairman ben bernanke has returned to capitol hill this morning. and investors are looking for more clues on the central bank's next move. and the markets at this hour have u.s. equity futures under a bit of pressure after yesterday's rebound as "squawk box" begins right now. >> welcome to "squawk box" right here on cnbc. i'm becky quick along with joe kernen at the cnbc world headquarters. carl is in washington this morning where president obama is hosting a televised health care summit. we'll have more from carl on that story. but joe, that's not the only news in washington today. >> no, it's not. we may pipe in that music with carl down there and he'll be looking good. he'll have his jacket on. >> he always looks good. >> yes, he does. also in washington, carl is there, but also this other guys that's going to show up. that's not really what all the scuttlebutt is going to be about down there. it's about carl. but ben bernanke will come back and testify on the hill today. yesterday he pledged to continue record low interest rates for, in his words, an extended period. >>
CNBC
Feb 10, 2010 12:00pm EST
much, sharon. we're not getting as much volatility today as yesterday although ben bernanke's tax did get a little movement. if you look at two-year yield it's slightly elevated and you look at the curve it's know changed. there's a potential for an exit strategy as depicted by that text. if you look at the next chart, indeed the euro versus the dollar has been mostly down, but it is bouncing back a bit especially in the last hour or so, keeping up with the headlines and some of those headlines, hey, the checks didn't have a good day and they sold an additional 150 million u.s. equivalent of their 15 year. they wanted to sell more, but portugal had better luck selling u.s. equipment of the 4 billion of ten-year note and let's hop across the pond and rebecca me ham. >> let's take a check of what's happening in europe and it's all about greece. no surprise there and we check on the fotse, the cac and the dax. 2.4% higher for greek eiquities today. we know we've had the european finance chiefsi having a conference call today. the ecb governing body is having a call tonight and tomorrow a
ABC
Feb 25, 2010 4:30am EST
the carfax!" it's free at thousands of reputable dealers. >>> federal reserve chairman ben bernanke will be back on capitol hill today, for day two of his twice-a-year economic report card. on wednesday he made it clear that interest rates will remain at record low levels for several more months to support the recovery. the latest housing numbers show just how fragile that recovery is. new home sales fell to the lowest level on regard in january. >>> new concerns about greece's debt crisis are overshadowing bernanke's comments this morning. stocks fell in torque owe with the nikkei dropping almost 1% today. bernanke's testimony gave wall street a boost yesterday. the dow finished up 91 points closing at 10,374. the nasdaq gained 22 points to close at 2235. >>> chrysler is voluntarily recalling more than 350,000 minivans because of problems with crash sensors that control the air bags. the company says it will replace the sensors in 2005 and 2006 town and country and dodge caravans. but chrysler says it should wait until june to contact dealers because it needs time to distribute the
WETA
Feb 24, 2010 7:00pm EST
. >> sreenivasan: wall street racked up gains today after the federal reserve chairman, ben bernanke, said interest rates need to stay low. the dow jones industrial average gained more than 91 points to close at 10,374. the nasdaq rose 22 points to close near 2,236. public and private sector workers walked off the job across greece today. it was the second 24-hour strike in the last two weeks aimed at a government austerity plan. demonstrators clashed with police in athens, after a peaceful march had ended. they were protesting plans to cut government spending because of a debt crisis. greece has announced wage freezes, bonus cuts and pension reform over the last month to save almost $7 billion. the u.s. house has stepped up the pressure on health insurance companies. it came a day before the president's bi-partisan summit on health care reform. health correspondent betty ann bowser has the story. >> this meeting will come to order. >> reporter: the target at a house hearing today was wellpoint-- the parent company of california's anthem blue cross. >> corporate executives at wellpoint are thriving
CNBC
Feb 24, 2010 2:00pm EST
. we were up 106 points at one point when mr. bernanke gave the market a pledge for lower interest rates for an extended period of time. he made interesting comments about the volcker rule although a lot of people think that is dead right now. and about financial regulation in general. so keep it here on cnbc all day. there are a lot of moving parts and the market's one of them. up triple digits. that's it for "power lunch." >> see you in an hour or whatever. >>> it is 2:00 in our nation's capital where washington and your money are colliding in a major way today. ben bernanke vowing to keep interest rates low for an extended period. president obama telling the nation's ceos he's pro america, not anti-business. wall street likes that rhetoric so far. the dow up nearly triple digits on that. we're also keep agear open what we anticipate will begin momentarily. the president of toyota's testimony to congress. welcome to street signs. a big hour, all of that news. the hour loaded with newsmakers of the day. senator charles schumer from new york joining us and the secretary of transpor
CNBC
Feb 19, 2010 6:00am EST
't paying attention. my lead of the bernanke speech was discount rate to be hiked. my lead on the minutes was -- >> it sounds like -- >> let me finish, melissa, just be clear, my sources are telling me in the wake of this that the concept there's another bit to come is not necessarily true. they may stop here. so the idea that somehow they're just beginning this process of going back to 100 over on the fed funds is not true. it's out there in a lot of stuff. they may stop here. >> rich bernstein -- >> i want to ask both of you. do you think fed funds december 31, 2010 will be higher than they are today? >> well, let me answer that question and put it back to you. the typical forecast, is that the unemployment rate will be 9.5% or higher. also, that the inflation rate over the last year will be 1 to 1.25%. i have to ask you if you think at that point the fed would begin to tighten? you tell me. >> first of all, i think the bond market will -- i don't think the bond market looks at core. i hate to argue with on you this one, but if we find the inflation rate starts breaking 3, 3.5, we break
CNBC
Feb 10, 2010 5:00pm EST
money" right now. >>> i'm in for melissa lee, this market is clearly confused. bernanke implying he's raising rates, we don't know when he's going to do that. all we do know is that in the meantime, this market is churning as investors take sides. pete, give us some clarity to this confusion, what were you trading today? >> it's not so much what was out there to trade, but because we're still stuck in this range. we talked about 1060 being an area where you had a little support. maybe 1080 on the up side, and that's where you state. you look at the volatility index. never signalled any panic. when you look at the volumes, bob, i think that speaks more than anything. the lack of volume, you're talking about the xlf, the quad-q's, the spiders, all $100,000 short of normal volumes. you look at apple trading less than half of its normal volume, it just wasn't there today, the volume wasn't there, don't read too much into today's action. >> i think what's important, we talked about last night on the show, stay away from the dollar trade. stay away from anything that is too tied to the cu
CNBC
Feb 12, 2010 7:00pm EST
year. government spending has done next to nothing. bernanke still has no real strategy. we're going to get to all of that with our market panel. who joins us now to talk about these many events of the week. we have peter morici of university of maryland. dan fitzpatrick and john carney returns. you know, dr. frolick, i want to begin with you. not greece, not the euro, not the snows, nothing really week.d stocks from going up the market has peaked in mid january and hasn't moved much in many months. but the fact remains, things may not be so bad. weigh in. >> i think it comes down to earnings, larry. we got some great efshgs. across the board, time warner, ann taylor, a look at comcast, even moodie and sony, it wasn't just earnings, larry, it was top-level revenue growth. the big picture, when you look at china, understand even with them slowing down, when they slowed down the first time, china banks still let $2 billion this january. third highest on record. as investors you have to realize this is money already in pipeline. when you think of china mustard seeds, larry, they're abou
CNBC
Feb 1, 2010 7:00pm EST
. bernanke said it. a lot of people said it. and then i said it after you said it. >> i know it. and you're on optimist. >> i am an optimist. >> in terms of why i thought it was contained was, first of all, i was talking about subprime and we made the mistake of just simply saying the subprime was not big in relation to a 13, $14 trillion u.s. economy. and what was really going on is we were talking about housing overall and since world war ii, housing, residential home prices, had generally gone up. and the mortgages were just considered to be very safe investments. and so the kind of decline we saw was something that was not envisioned in any kind of model. it wasn't anything that many people that were close it to -- after the fact, it seems obvious to all of us. but the -- and so when you had the kind of decline we saw in housing prices that changed the behavior of those of homeowners, and, also, the other thing you and i were talking about before the show is this -- all of this complexity. so when -- it. >> it's crazy. mortgage-backed securities that were rated triple-a by a bunch of
FOX News
Feb 10, 2010 3:00pm EST
the height of the economic crisis. ben bernanke was expected to testify but the hearing was canceled because of the snow. bernanke says the fed will likely raise it is interest rate it pays banks. raise the rate but analysts say that could hurt folks looking for consumer loans because banks have incentive to sit on their money rather than lend. this is the cycle and we're gob to move forward. bernanke says the move is months away and claims it's best for the fed to recoup the money it loaned out. you may wonder why would the federal reserve do something to make it more difficult to get loans? at the same time, the obama administration wants banks to extend loans to small business to say they can hire more workers. it's a central component of the job creation plan. major garrett has more. how can each happen at the same time, as if i didn't know? >> i've talked to senior administration officials and of course the federal reserve is an independent agency, the white house and treasury department don't like to talk about the policy but the federal reserve and government are more interlinked sinc
NBC
Feb 25, 2010 6:00am EST
killian reporting from washington. >> testimony from said she's been bernanke kept stocks in the green yesterday -- fed chairman ben bernanke. >> good morning. ben bernanke testifies on capitol hill again this morning. today he goes before the senate banking committee. yesterday he told the house financial services committee that the economy is only at the beginning of the recovery. he says this requires the federal reserve to keep interest rates low to encourage demand by consumers and businesses. investors holding the global retreat and investors shrugged off distressing news from the housing market. sales of new homes plummeted last month to the lowest level on record. this is where we ended up. the three major u.s. indexes rose 1% yesterday. black and decker and t. rowe price and the bloomber -- led the bloomberg maryland index higher. costar says it will make more money this year than analysts predicted. toyota is not the only auto maker capturing the attention of wall street. general motors is going to shut down hummer. china said it would have flown in the face of the country's
CNBC
Feb 25, 2010 2:00pm EST
the indicators are telling us. >> steve liesman, we've had two days of ben bernanke's testimony. sorry? okay. steve is gone. lou, i'll put this question to you. yesterday steve had talked about the fed chief didn't appear to be optimistic about the economy and he continued to say rates aren't going anywhere. do you think, then, when paul's talking about retail stocks being at a one-year high and hearing positive signs on the consumer that means those names are in for a fall as opposed to where the broader mark would go, which would be up. >> as far as consumer names? >> back to consumer. i just think it's -- the consumer's in a difficult situation and i think that the stocks that have benefitted from their cost cutting and not from the consumer. just to reflect back on 1983 sentiment here, back then the beginning of the reagan revolution and deregulation of stocks, the begin ofrning of th credit expansion. the dow broke above 1,000 for the first time significantly since 195. a 16-year resistance that it broke through. there's a lot of differences between now and 1983. also, there was a much
CNBC
Feb 26, 2010 6:00am EST
't you tell us what you think after hearing a couple days of bernanke's testimony on the hill. does it change your outlook on what the fed is doing? >> no, as long as they use the magic words, extended period, we know the fed will be on hold for at least six months. that's what bill dudley told us. he said extended period was the language the fed has put in the policy statement, means at least six months. it was a phrase repeated by st. louis fed president bullard recently. so whenever bernanke puts his word in on it as well, we can feel assured that the fed is not likely to move for at least six months. the fed needs to be very clear at this day and age. so if they're telling us that that's what extended period means, that's what it means. and so, until there's some other clarifying comments, that's what we have to go on. >> we had somebody who told us yesterday that maybe they could move 25, 50 basis points. it's not the extended period but they're focusing on the incredibly low rates. either one of you guys quily think that's the case? >> the focus is on the extraordinary program
FOX News
Feb 10, 2010 7:00pm EST
tonight. thank you. the federal reserve chairman ben bernanke laid out the blueprint for the fed's plan to recoup all the money it loaned out in the great recession and in turn winding down the stimulus program. bernanke issued a statement saying the fed will try to raise the interest rate it pays banks to keep money in the u.s. central bank. analysts say that way banks would be less inclined to put money on risky investments. but they also say that could hurt consumers because those banks would have more incentive to sit on their money and earn interest rather than lend it out to you and me. but, bernanke says the plan will not be implemented until the economy is on a firmer footing. on wall street, the stock market managed to steady itself before the closing bell today. after hearing bernanke's plans concerning the central bank, stocks suffered sharp early losses before reversing course later in the day. the market ended up just about where it started. the dow dropped 20 to close a little bit above the 10,000 mark. the nasdaq down 3. the s&p off 2. while the fed works on the financial
WETA
Feb 12, 2010 11:30pm EST
quickly got interest rates to zero. >> when dow, based on what the chairman of the fed mr. bernanke said recently, when do you expect him to begin or the fed to begin feeling like in order to combat inflation they have to do something. >> you know. >> rose: about raising the cost of money. >> i think the fed has made it very clear they don't think that that time is any time soon if you read their statements. they are very careful to say it is certainly a ways off. i think what chairman bernanke was doing was talking about a plan. and how, when it's time will the fed be able to drain reserves so people have the confidence to know that if they get worried, they can, you know, take the reserves out of the system so you don't have inflation. i like to draw the analogy t is very much what the president is doing with his budget, at the same time that he is saying we need to do some more energy spending to create jobs, sort of those targeted measures, we need to put in place a plan for as we come back to full employment, how do we deal with the budget deficit. that is exactly what he is talking
WETA
Feb 25, 2010 7:00pm EST
up at a senate hearing today with fed chairman ben bernanke. >> we have a situation in which major financial institutions are amplifying a public crisis for what would appear to be for private gain. i want to ask you here whether or not you think there ought to be limits on the use of credit default swaps to prevent the intentional creation of runs against governments. do you have any quick comments on that? >> using these instruments in a way that intentionally destabilizes a company or a country is... is counterproductive, and i'm sure the sec will be looking into that. we'll certainly be evaluating what we can learn from the activities of the holding companies that we supervise here in the u.s. and joining me with the latest on all this is roben farzhad, senior writer for "bloomberg business week" magazine. in general terms first, what exactly is chairman bernanke promising to look into? >> this has for the better part of the decade been the great big unknown, this world of derivatives which are largely unregulated secondary investment vehicles. they're almost train of thought.
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